Winners of European Investment Bank’s Social Innovation Tournament Announced

Winners of European Investment Bank’s Social Innovation Tournament Announced

(IN BRIEF) The European Investment Bank Institute recently unveiled the winners of this year’s Social Innovation Tournament (SIT) at a ceremony in Stockholm, celebrating European social entrepreneurs and their impactful products or services. The SIT, an annual event organized by the EIB Institute, saw participants from ten European countries present their innovative solutions to address social, ethical, and environmental challenges. Notably, the second prize in the general category was awarded to Maltese firm BRAINTRIP for their AI-powered dementia test, while the Spanish company SMART FIBER by FIBSEN secured second prize in the special category for its novel water management models addressing water scarcity. These winners received €40,000 each, and SMART FIBER also won the Audience Choice Award, earning an additional €10,000. The SIT is not only about monetary rewards; finalists become part of the SIT Alumni Network, offering them training opportunities and access to an innovation grants program to further their social impact initiatives. This initiative has been fostering social entrepreneurship across Europe since 2012, providing critical support to numerous impact entrepreneurs.

(PRESS RELEASE) LUXEMBOURG, 30-Sep-2023 — /EuropaWire/ — After an exciting competition with numerous innovative ideas from pioneering start-ups, the winners of this year’s Social Innovation Tournament run by the European Investment Bank Institute have been announced at a ceremony in Stockholm.

The Social Innovation Tournament (SIT) is held every year by the EIB Institute, which is part of the European Investment Bank Group. The tournament recognizes and supports European social entrepreneurs by virtue of the social, ethical or environmental impact of their products or services.

The final was held on 28 September at Fotografiska in Stockholm, the Contemporary Museum of Photography, Art and Culture, where the finalists presented their solutions in front of a very diverse audience of impact investors, policymakers and other entrepreneurs from the start-ups ecosystem.

The second prize in the general category was awarded to the Maltese company BRAINTRIP, which has developed a non-invasive, electroencephalogram-based, AI-powered dementia test.

In the special category, the Spanish company SMART FIBER by FIBSEN won second prize. It has developed new water management models that address the pressing issue of water scarcity.

Both companies won €40 000 award each.

The Audience Choice Award, which came with a €10 000 prize, was also awarded to SMART FIBER by FIBSEN.

The 15 finalists represented ten European countries — Austria, Belgium, France, Germany, Italy, Malta (for the first time), the Netherlands, Spain, Sweden and Switzerland. Selected in May from almost 300 applicants, the finalists participated in a tailor-made training programme before defending their project to a jury of social innovation specialists.

European Investment Bank Vice-President Thomas Östros said: “Entrepreneurship plays a crucial role in driving economic growth and job creation with positive social or environmental spillover effects. During the Social Innovation Tournament in Stockholm this year we have seen finalists from all over Europe present and defend their outstanding impact business ideas. I wish to congratulate the winners of the tournament for their impressive range of innovations and look forward to seeing the next stage of their businesses being developed. At the same time, all the finalists deserve congratulations for bringing their impact innovation ideas to light, and for their contribution to seek solutions to societal changes and challenges.”

The Social Innovation Tournament is not only about financial rewards. Each year’s finalists automatically become members of the SIT Alumni Network, connecting them and other selected social entrepreneurs. As alumni, they benefit from numerous training opportunities and an innovation grants programme.

Launched in 2012 in Luxembourg, the SIT has rewarded dozens of impact entrepreneurs from all over Europe, helping them scale their impact notably through additional EU and private investor funding.

Annex: Projects Selected for the EIB Institute Social Innovation Tournament Final

AIDROLYST by C2Cat — Aidrolyst is a global breakthrough in enabling green hydrogen. It develops high-performance, custom-made catalysts for hydrogen production and storage. (Netherlands)

BETTAF!SH — BettaF!sh — tastes like tuna, made from seaweed. Who knew saving the sea could be so yummy! (Germany)

BRAINTRIP — Braintrip is a non-invasive, electroencephalogram-based, AI-powered dementia test worthy of the 21st century. (Malta)

DIAMENS — One in ten women suffers from endometriosis. Diamens is the world’s first at-home test kit for easy, pain-free diagnosis of endometriosis. Identify your pain. Period. (Austria)

GRIBOUILLI — Gribouilli is the first professional association of babysitters and nannies. It is empowering a largely invisible community of immigrant women whose employment is precarious. (France)

HUSMUS — Husmus is an AI-powered marketplace that drives fairer access to homes. We create and provide customisable, affordable insurance that enables all renters to access homes without financial barriers. (Sweden)

MONUMENTI APERTI by Imago Mundi — Since 1997, Monumenti Aperti has offered global expertise to communities ready to enhance their cultural heritage, helping them to raise awareness to foster their local growth. (Italy)

MUNEVO — Munevo DRIVE is a control system for power wheelchairs based on smart glasses. It allows people without hand function to become independently mobile using simple head movements. (Germany)

SMART FIBER by FIBSEN — Ending water scarcity with smart sensing to secure our future. (Spain)

SOCIALCARD — With SocialCard, you can donate the cash value of unused loyalty points directly to people experiencing homelessness. Turn your cashback into “cashforward” and go from pocket change to real change! (Austria)

SOPHIA CHATBOT — “Sophia” is a 24/7 digital companion helping survivors of domestic violence remain confident and aware as they take action to save their own lives. (Switzerland)

STUTTER STARS (formerly FLUENCY FRIENDS) by SAY IT Labs — Stutter Stars is the world’s first interactive video game for people who stutter. Helping improve communication — anytime, anywhere. (Belgium)

SUMM AI — SUMM AI is the “Google Translate for easy language”: Our tool makes complex text easy to understand for everyone at the click of a button. (Germany)

VEMOTION by Reactive Robotics — VEMOTION is a robotic assistance system for mobilisation in intensive care units. It helps speed up patient recovery, reduce stress on nurses, and alleviate the problems of understaffing. Because YOU care! (Germany)

WE DO SOLAR — We Do Solar offers an at-home solar solution that’s easy to install on balconies or garden fences. It generates green energy to power your household devices, reducing your energy bills by up to 25% — all while helping the planet by saving CO2. (Germany)

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SOURCE: European Investment Bank